Page 2 - Somesh Jha

PNB to raise Rs 7,000 crore through QIP by December this year

Bank receives fewer proposals for restructuring than expected as companies fear impact on ratings

Bank of Baroda withdraws order reducing free cash transactions

The government said that none of the state-owned banks proposed to raise bank charges in the near future in view of the Covid-19 pandemic

PNB's pre-tax profit surges by 54% to Rs 979 cr in Q2, PAT up 22%

Net interest income soars 29% to Rs 8,393 crore, NPA position improves

Govt extends emergency credit line guarantee scheme till November 30

Earlier deadline was Oct 31, Under the scheme, 100% guarantee is provided by National Credit Guarantee Trustee Co for additional funding of Rs 3 trillion to borrowers

Govt to frame sector-specific model employment contracts for industries

Move aimed at easing compliance burden for companies; experts see it as micromanagement

Govt gives digitisation push to labour codes, makes draft rules public

Number of rules will come down from over 80 to 42 for labour laws relating to industrial relations.

Gig workers to make PF contribution, get social security for first time

Over 1 million workers set to join new regime in first year

Are you eligible for refund under interest waiver scheme? Check new rules

The government clarified that borrowers will be entitled to get a refund on an aggregate sum of Rs 2 crore borrowed from the banking system,

First target would be a faceless inspection regime: Labour secretary

There are significant changes that have been introduced through the labour codes, which considerably reduce the compliance burden for companies, said Chandra

RBI's debt restructuring scheme sees few takers in corporate world: Banks

Under the scheme, borrowers' accounts will not be downgraded as sub-standard or 'non-performing' if their loans are restructured

Govt launches new series for CPI-IW, no impact on dearness allowance

CPI-IW is used to compute DA of govt employees and industrial workers. The DA gets revised twice a year and is meant to adjust wage to the impact of inflation

Spike in enrollments deceptive as high volatility mars EPFO payroll data

A certain set of establishments (not all), with at least 20 employees, are required to make contribution towards the provident fund (PF) of its workforce.

Urban joblessness up in six states in July-Sept 2019, Gujarat worst hit

Sharpest decline in unemployment rate was seen in Haryana, from 11.5% in April-June 2019 to 7.5% in July-September 2019

Govt may look at strategic sale of Hind Copper to meet disinvestment target

Govt also asks 8 PSUs to go for share buyback

Centre to ensure interest waiver benefits to small borrowers by Nov 2

Experts say provisioning requirements for banks may go up 20-50 per cent in Q2 due to SC standstill order

Divestment strategy: Govt to avoid ETF, OFS to protect stock value

ETFs have been a favoured strategy for the government, with around 80 per cent of last fiscal year's sale proceeds coming from such transactions.

New inflation index to impact DA, 30 mn govt staff to get more pay

The CPI-IW hasn't been revised since 2001 - an exercise which should usually take place every five years

Govt plans to implement labour codes on April 1, starts shaping rules

Industries to file single return under new regime. Number of minimum wages demanding compliance set to reduce to 12 from 540 under central laws, to 180-200 under the state laws

Compound interest waiver will cost Rs 6,500 crore to govt: Official

Cabinet decision soon on setting up a development finance institution and framing a new policy on public sector enterprises

Fiscally restrained govt tries new formula to boost festive consumer spend

The government will also give interest-free 50-year loans to the States for capital expenditure of Rs 12,000 crore